What are Reserve Banks?

2 answers:

4 0

The correct answer is that Reserve banks are regional banks that help the central bank to carry out its duties.

Summary: Due to the United States economy represents a very large geographical area, the Federal Reserve operates in twelve regions or districts throughout the nation. Those districts are located in Atlanta, Boston, Chicago, Cleveland, Dallas, Kansas City, Minneapolis, New York, Philadelphia, Richmond, San Francisco, and St. Louis. Every district has three main responsibilities:

1. Supervise the implementation of the Federal Reserve's monetary policy.

2. Provide financial services and lend money to regional banks within its district.

3. Collect and analyze data to be used by the Federal Reserve Board (FRB) or the Federal Open Market Committee (FOMC).

RoseWind [281]3 years ago

3 0

Reserve banks are Regional banks that help the Central bank carry out its duties
In order to do that, the reserve banks should operate under the policies of the US federal reserve

hope this helps

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